Fund Proposed To Guarantee University or College Education

Minister Of Education - Sam Condor

Minister Of Education – Sam Condor
Photo By Erasmus Williams

Basseterre, St. Kitts – Nevis
June 25, 2009 (CUOPM)

Deputy Prime Minister and Minister responsible for Social Security, Hon. Sam Condor is proposing the establishment of a fund to guarantee the education of young Kittitians and Nevisians at the university or college level.

“This Labour Government is recommending that every child born in the Federation will receive EC$500 to EC$1,000 at birth, once the mother or the father is a contributor to the Social Security Fund,” Mr. Condor disclosed at public meetings in West Basseterre and Fig Tree.

“This Fund will guarantee that every boy and girl, every student, who passes through our Secondary Education system, will have some financing to attend university or college education either overseas or locally,” said Minister Condor, who is also the Minister of Education.

He said that the money will be held in Trust in a special account at a financial institution for post Secondary Education.

“That is a guarantee. Once you become of age, the sum of the account ““ the principal plus the interest must be used by that student for his or her university or college education,” reiterated Minister Condor.

He said it is also proposed that in the event that the student does not attend University or College, the full amount of the individual account is forfeited and goes back in the funds of the Social Security.

It is further proposed that in the event of the death of the student before post Secondary Education, the total amount of the student’s account in the Trust goes to the parents or guardian.

Deputy Prime Minister Condor is of the view that approximately 800 children could be eligible each year.

There is a recommendation that parents and guardian can contribute an equal amount to the Trust at birth.

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